Amyotrophic Lateral Sclerosis Treatment Market to Surpass 138.58 Million by 2030 Drives Due to the Availability of Improved Healthcare Expenditure
SkyQuest projects that the amyotrophic lateral sclerosis treatment market will attain a USD 138.58 million value by 2030, with a CAGR of 5.8% over the forecast period (2023-2030). The amyotrophic lateral sclerosis treatment market is poised for substantial growth, primarily driven by the high potential in untapped emerging markets. These regions present a significant opportunity for expansion, owing to the availability of improved healthcare expenditure and a rising focus on addressing unmet healthcare needs.
Westford USA, July 27, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the rise in the prevalence of amyotrophic lateral sclerosis treatment market has driven a surge in demand for effective treatments and therapies to address this debilitating neurodegenerative disease. As evidenced by a study published by the National Center for Biotechnology Information (NCBI) titled 'Estimated Prevalence and Incidence of Amyotrophic Lateral Sclerosis and SOD1 and C9orf72 Genetic Variants,' it was revealed that Europe faced an estimated ALS prevalence of 6.22 cases per 100,000 individuals, with an incidence rate of 2.31 per 100,000 people.
*Browse in-depth TOC on the "Amyotrophic Lateral Sclerosis Treatment Market" *
· Pages - 242
· Tables - 65
· Figures – 75
The increase in patient awareness about the importance of early diagnosis and treatment of amyotrophic lateral sclerosis (ALS) has driven the growing demand for ALS drugs in the amyotrophic lateral sclerosis treatment market. As people become more informed about the symptoms and risks associated with ALS, there is a greater emphasis on seeking medical attention promptly, leading to an upsurge in demand for effective therapeutic solutions.
*Prominent Players in the Amyotrophic Lateral Sclerosis Treatment Market*
· Mitsubishi Tanabe Pharma Corporation
· BrainStorm Therapeutics
· Biogen Inc.
· Sanofi S.A.
· Genentech Inc.
· Cytokinetics Inc.
· Avanir Pharmaceuticals, Inc.
· Novartis International AG
· Ionis Pharmaceuticals, Inc.
· Neuraltus Pharmaceuticals, Inc.
· Pfizer Inc.
· Anavex Life Sciences Corp.
· AB Science
· Biohaven Pharmaceutical Holding Company Ltd.
· Ono Pharmaceutical Co., Ltd.
· Bausch Health Companies Inc.
· GW Pharmaceuticals plc
· Mitsubishi Chemical Corporation
· Regeneron Pharmaceuticals Inc.
· Biocytogen, LLC.
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*Meditation Segment is Expected to Grow the Market Due to its Stronghold*
The meditation segment has emerged as a dominant force in the global amyotrophic lateral sclerosis treatment market, maintaining its stronghold throughout the forecast period. While the market primarily relies on two approved drugs, Rilutek (riluzole) and Radicava (edaravone), to address ALS, a new contender has emerged in the form of Nuedexta (dextromethorphan/quinidine).
The markets in North America held the largest market share in the global amyotrophic lateral sclerosis treatment market, and this dominance is projected to persist throughout the forecast period. Several factors contribute to North America's continued leadership in the market.
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*Stem Cell Therapy Segment is Expected to Dominate the Market Due to the Rising Demand for Advanced Therapeutic Solutions*
Stem cell therapy segment is anticipated to demonstrate the highest CAGR within the global amyotrophic lateral sclerosis treatment market, owing to the rising demand for innovative and advanced therapeutic solutions. Pursuing new approaches and cutting-edge treatment options has driven significant interest in stem cell research for ALS.
Regional markets in the Asia Pacific is anticipated to witness the most rapid growth rate among all regions in the global amyotrophic lateral sclerosis treatment market. This surge can be attributed to the increasing revenue generation by riluzole generic manufacturers, particularly in countries such as India and China.
A comprehensive analysis of the major players in the amyotrophic lateral sclerosis treatment market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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*Key Developments in the Amyotrophic Lateral Sclerosis Treatment Market*
· A significant milestone was achieved in treating amyotrophic lateral sclerosis (ALS) as Canada approved Amylyx Pharmaceuticals Inc.'s novel drug, ALBRIOZA (AMX0035) in 2022. This approval marked a crucial advancement in the ALS treatment landscape, offering new hope and potential therapeutic benefits for patients in Canada.
· In 2022, Mitsubishi Tanabe Pharma America achieved a significant breakthrough when the United States Food and Drug Administration (FDA) approved RADICAVA ORS (edaravone) to treat ALS. This approval underscored the drug's efficacy and safety in managing the symptoms of ALS, further expanding the treatment options available for ALS patients in the United States.
*Key Questions Answered in Amyotrophic Lateral Sclerosis Treatment Market Report*
· What specific growth drivers are projected to impact the market during the forecast period?
· List the top companies in the market and explain how they have achieved their positions of influence.
· In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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